Stifel Nicolaus Trims Proficient Auto Logistics (NASDAQ:PAL) Target Price to $21.00

Proficient Auto Logistics (NASDAQ:PAL) had its price objective cut by Stifel Nicolaus from $22.00 to $21.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on PAL. Barrington Research restated an outperform rating and set a $22.00 price target on shares of Proficient Auto Logistics in a research report on Friday, September 20th. Raymond James boosted their price target on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the company an outperform rating in a research note on Monday, August 12th. Finally, William Blair began coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They set an outperform rating on the stock.

Proficient Auto Logistics Trading Down 4.3 %

PAL opened at $14.18 on Friday. Proficient Auto Logistics has a twelve month low of $14.06 and a twelve month high of $21.01. The stock’s 50-day simple moving average is $18.34.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to analyst estimates of $101.69 million. The business’s revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Proficient Auto Logistics will post 0.84 EPS for the current year.

Insider Activity

In related news, Director James B. Gattoni bought 20,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $379,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Proficient Auto Logistics during the 2nd quarter valued at about $176,000. Federated Hermes Inc. purchased a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $257,000. Blair William & Co. IL purchased a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $660,000. Marshall Wace LLP bought a new stake in shares of Proficient Auto Logistics in the second quarter worth $1,082,000. Finally, Emerald Advisers LLC bought a new stake in shares of Proficient Auto Logistics in the second quarter worth $1,172,000.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.